Key Points
- Csquare CFO Steven Cook bought 2,028 shares for about $35,000, increasing his holdings to 382,980 shares. The CEO and a director also purchased shares on the same day.
- Latest quarterly results missed expectations, with a loss of $0.58 per share versus the $0.49 consensus, while revenue rose 25.6% year over year to $302.33 million.
- Analysts have a “Moderate Buy” consensus and an average price target of $27.78; TD Cowen raised its target to $30 and reiterated a Buy rating.
Csquare, Inc. (NYSE:CSQR - Get Free Report) CFO Steven Cook bought 2,028 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The shares were acquired at an average cost of $17.26 per share, for a total transaction of $35,003.28. Following the completion of the purchase, the chief financial officer owned 382,980 shares in the company, valued at $6,610,234.80. This trade represents a 0.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Csquare Price Performance
Csquare stock traded down $0.35 during mid-day trading on Friday, reaching $16.87. 1,893,241 shares of the company's stock were exchanged, compared to its average volume of 2,482,232. The company has a quick ratio of 1.67, a current ratio of 1.36 and a debt-to-equity ratio of 6.12. Csquare, Inc. has a twelve month low of $12.30 and a twelve month high of $23.50. The stock's fifty day simple moving average is $16.56.
Csquare (NYSE:CSQR - Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.09). The business had revenue of $302.33 million for the quarter. The company's revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) earnings per share. On average, research analysts expect that Csquare, Inc. will post -1.78 EPS for the current fiscal year.
Key Csquare News
These are some of the CSQR news items that stood out recently:
- Positive Sentiment: Three insiders bought shares on November 11: CEO Spencer Edward Mullee purchased 13,573 shares, Director Philip Kelley bought 10,000, and CFO Steven R. E. Cook acquired 2,028. The purchases may signal confidence in the company. CEO filing Director filing CFO filing
- Positive Sentiment: Analyst sentiment is supportive: TD Cowen raised its price target to $30 and reiterated a Buy rating. Reports also said shares climbed after an analyst upgrade. TD Cowen outlook Report on analyst upgrade
- Negative Sentiment: Csquare’s latest quarterly loss was wider than expected: its $0.58-per-share loss missed the $0.49 consensus estimate. Revenue rose 25.6% year over year to $302.33 million, but the earnings miss could weigh on sentiment.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in Csquare stock. Voya Investment Management LLC purchased a new position in shares of Csquare, Inc. (NYSE:CSQR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,394 shares of the company's stock, valued at approximately $164,000.
Analyst Upgrades and Downgrades
CSQR has been the subject of a number of recent research reports. Royal Bank Of Canada assumed coverage on Csquare in a report on Monday, August 10th. They issued an "outperform" rating and a $24.00 target price for the company. Sanford C. Bernstein restated an "outperform" rating and set a $28.00 price target on shares of Csquare in a report on Tuesday, November 10th. TD Cowen upped their price target on Csquare from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, November 10th. Bank of America reaffirmed a "buy" rating and issued a $37.00 price target on shares of Csquare in a research report on Tuesday, November 10th. Finally, JPMorgan Chase & Co. began coverage on Csquare in a research note on Monday, August 10th. They issued a "neutral" rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.78.
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About Csquare
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Csquare Inc. is a provider of carrier-neutral data center solutions. The company's digital infrastructure platform offers carrier-neutral colocation and interconnection services which support the applications. Csquare Inc. is based in COPPELL, Texas.
Further Reading
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